Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1887-06-15


'ast, and that the lowest point for Ju had
been reached when the &c drop of Satur-
LAY occurred. But outside forces were at work
tor bears Thousands of cars are standing on
side tracks and elevators are all filled TO burst
ing. tremendous receipts are reported and
everything pointing to more wheat. Such was
The condition when traders went on char sse
this morning For first offering OF July
wheat there were no takers. 1t was
offered under the supposed market, tin
upon bulls at the close of last week again n de
them quake. The uproar was great and int nse
in wild effort to sell wheat. July dropped
from S314c TO SIC, while men were thinking what
10 do. Every one wanted to unload, but no one
wanted wheat. In less time than II takes to
tell the story, July wheat was offered at &c,
or &c less than the closing price Yesterday. 1t
was short time storm, but terrible In is eff
fects on It's road. Traders crawIed out q the
pit dripping with perspiration and veal rom
none were announced to add to the fe-
verish condition of things. Then tor an
hour there was slight rally and the leading
future, July, sold up TO ST. this was but lull
in the storm. AT II O'Clock the indicator for
July showed that 1t was again selling down and
In Is minutes 1t was offered at 79c; 4}4c below
tumble at the noon hour and July wheat sold
down to 7615c, or nc below opening prices.
The entire board was little less than aspande-
monium and the bears declared IL was Just
retTibution on bullish wheat manipulators.
Rumors reached here that there was run on q
bank in Cincinnati where headquarters of longs
called and heavy deposits demanded. Chicago
banks, IL WAS said, refused TO advance any
more money on wheat, and late in the session
IL was stated that checks of some parties inter
ested on the long side had been refused. At
1873 came the startling an ouncement that all
persons having trades with Rosenfeld Co.,
one of the clique hou' es should close them at
once The uproar had not subsidized when July
wheat took the fourth and worst turn of the
day and dropped for the moment to T4c, and
closed the morning session at "a &c. Trouble was
. leNDpcteQ heTGlAw's. and
crowd was ready for anything short of an
earthquake. Throngs of people rushed in from
the streets, an the gallery was filled with a
local, excited tnrong of men and women. 1t was
The morning session to be remembered as long
IS wheat grows. Intermssion al O'Clock gave
! numerous chances to catch their breath, and
when the afternoon session was called the eN-
| element had somewhat abated. At 2:20
O'Clock il was officially announced that E w.
| Bailey ~ Co and Hamill & Brine requested all
parties having trades with them to close them
atOnCe. The instant this announcement was
made July wheat dropped TO T355C but soon
covered and went back to I4c Five minutes
later Secretary Stone raped the
tumultuous crowd and they came to order,
and read the following from the leading clique
! house of G. j. kershaw " Co: 1--WE have
! surancc That margins and ample funds will be
! forthcoming by tomorrow morning., and we
request that no trades be closed out " The an
| nouncement was received with cheers, and In
! four minutes July whe It was selling at % &c.
/ The lowest figures touched by July wheat dur
] ing the day was lOi4c under yesterdays close
]
/ In July, yet June wheat sold with widest
! fluctuations, from &c down to SOC and up 10 Gle,
then by jumps down TO &c, when a slight
reaction occurred. Seventy-three was
the lowest figure touched by
June, which is about 2Oc under yesterdays
| closing price. June closed at Axe. Deferred
! futures declined less sharply, but during the
! morning dropped about 2}zc for August
a, September. Corn was active, and
fluctuations showed a wider range Than
| tor some days. Several lines of ''lOng" corn
on the market, which, with the heavy decline
! in wheat, had a depressing effect, and values
ruled weak. The market opened at about the
closing figures of yesterday, and declined,
with slight luCtualiOn, &c, and closed sc lower
! than yesterday. July opened at 3Sc ana closed
II BE- c. Considerable business was transacted
in provision market, and feeling " las greatly
unsettled. The falling off in receipts of hogs
and the advance in prices caused stronger
feeling early, and the sales of products were
made at higher price. y breaR in prices of
grain, however, caused considerable nervous
ness, and offerings were very liberal, and
caused marked reduction in prices July lard
opened at S. 615zc ana sold down 10 S. so, July
ribs opened at 81 I2is snd sold up TO
81 %, and closed at s. 10. The leading futures
closed as follows Wheat-June Axe July
Ij8c; August 764c; September IKE. Corn
June SIC; July SIC; August 3Sc; Septem
Der 80 Pork-June S22 90. Lard-June
Sc 10; July Sc CO.; August Sc G7]4; Sep
timber IS ia. short ribs-June 81 %;
July 81 So; August s. IS; September s. IS. Cash
quotations were as follows No, , spring wheat
740744c; No = red, I4c; No ? corn 364 3615c;
50; snort ribs, sides, leose, s. 4507 80; Dry
sailed shoulders. boxed 50 60G5 20; short clear
sides, box ed, 81 sO07 s..
NEW YORK, June IA -Flour-Market heavy, |
IN some cases shade lower, closed weak. !
Wheat-Cash grades declined 3G532c per |
bushel, with active trade reported In good part |
for export; options erv0us and very much de- !
pressed, owing to u heavy break at the west; |
prices declined &c On June, 4I4c on July, and |
later months 6HG62lc. Later speculations were
very brisk, In fact dealings were the largest |
ever recorded. Spot-No red $3.50 at
elevator; s35a0932lc delivered; 932. G94c !
0. b June 92H094Gc, closing 9215c; |
July $50 G923.c, closing S9i4c; August S7E |
Gs9l4c, closing sSC; September SIS. "a sc, CLOS !
ing SohC; October SS2{0S9alc, closing S915 |
Corn-Spot lots about &c and options KG4c /
lower, heav, (; SPOT No. ,, 46A04Ic elevator; |
471l6472Ic delivered; June 46i4G465Ic, closing !
46ac; July 46%@E5c, closing 49, August |
5s04s15. closing 4T%c; September 4s3S 049c,
firm; 1874; ootions higher and fairly active |
sales 2ll,OCO bags. June SIC 9OGl6 95; July |
SIC 45Gl1 80; August 81 0OGl7 20; September |
Sl7 l5al7 30; October Sl7 050lS 90; November |
ST CO017 Is; December 81 400s so; January |
ST. 3j0lS 05; February ST. 45GlS %; MarCn !
Sl7 4aalS 90; April Sl7 4jGlS %. Sugar dull
and nominal: fair refining quoted = al I-l6e; !
refined quiet but firm on low grades; standard |
a 3 as l-l6c graduated SIC. holasses dull |
and nominal. Pork fairly active and steady, |
sales $50 barrels; mess on privG'e terms quoted |
at SIC 90 for and SIS 90 for old. Beef quiet
and steady. Cut meats steady; picked bellies
at 15Sc for middles; market Gull, weak and |
western steam spot quoted at S. S71z06 80;
JRlv Sc S9G6 81; August S694G al 05; September
s. C967 IA October s. 15G7 q; November 81 O5G
= 10; city steam Sc 65
NEW ORLEANS, La, June II Flour unset
tied but generally lower; choice s. s0G3 30;
fancy 81 00G4 IL; extra fancy u 3O64 10; Mime.
sofa and winter wheat patents 81 S0G5 co. Corn
quiet and weak; mixed 5O650kc; yellow 5l6
j2c; white j4G55. Oats steady at 56G361Sc. Corn
meal quiet at 81 30 Hay dull; prime SIS GOA
10 %; choice ST. t00IS 90. Hog products were
dull and dropping; pork quoted at SIS 30.
lard So 62kc. Bulk mGats-shoulders So co;
long clear and clear ribs S775 Bacon-shoul-
ders So so; long clear IS So; clear ribs SS.5OG
5 sra hams llGllRc. MhisRey steady, 81 O5G
81. Coffee market excited and so unsettled
that accurate quotations can hardly be given
Rio held at 1873 as &C; price 4Gjc. Cotton seed
products steady; prime crude oil 30 S3Oc; sum
mer yellow 37G3Sc; cake and meal so 90
020 20, Sugar. scarce, firm open good fair to
fully fair 5i4ci csntrifugals choice yellow
clarified SIC; seconds SIC. Moasses, firm
centrifugals strictly prime to fancy 2SG53c.